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Central Bank Q3 net loss widens to Rs 16.6 bn as provisions for NPAs double

The provisioning for bad loans and contingencies was at Rs 34.27 billion during the quarter

Press Trust of India  |  New Delhi 

Central Bank Q3 loss widens to Rs 1,664 cr on rising bad loans

of India on Friday reported widening of to a staggering Rs 16.64 billion for the third quarter ended December 31, 2017-18, on persisting bad loans. The state-owned had posted Rs 6.057 billion in the October-December quarter of 2016-17. Its total income decreased to Rs 65.89 billion during the quarter under review, as against Rs 67.87 billion in the year-ago period, the said in a regulatory filing. Asset quality of the further deteriorated as gross (NPAs) grew to 18.08 per cent of gross advances during the December quarter, as against 14.14 per cent in the year-ago period. Net NPAs stood at 9.45 per cent of net advances, up from 8.54 per cent a year ago. The provisioning for bad loans and contingencies was at Rs 34.27 billion during the quarter, slightly down from Rs 14.86 billion a year ago. Similarly, the provision for bad loans doubled to Rs 30.81 billion against Rs 15.71 billion in the same period a year ago.

First Published: Fri, February 09 2018. 22:41 IST
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